Asia News
Briefs

Updated Oct. 8, 2001 6:39 a.m. ET

Hong Kong Retail Sales Fell 0.9% in August

The value of retail sales in Hong Kong dipped by 0.9% in August as skittish consumers remained reluctant to increase spending despite persistent deflation. Discounting the effects of price changes, retail sales continued to show modest improvement, rising 1.7% in volume from the same period a year earlier. In July, retail sales fell 0.8% in value but rose by a revised 1.3% in volume. The August data "continue to reflect a mixed performance," a government spokesman said in a statement. By volume, sales of electrical appliances and photographic equipment rose 12.8%...